Neoenergia turns to BNDES, debentures for transmission lines

Neoenergia turns to BNDES, debentures for transmission lines

Corporate & Sovereign Strategy Economy & Policy Debenture Loans Brazil Capital Markets Electricity

Neoenergia, the Brazilian subsidiary of Spanish electric utility company Iberdrola, plans to take out loans from national development bank BNDES and issue debentures to fund investments in the two transmission lines that it won at auction on Thursday, executives said during a conference call.  Neoenergia committed to invest BRL4.9 billion ($933 million) after winning a contract to build 1,700km in new transmission lines in the state of Minas Gerais, the largest project in the auction. It also w

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